SBS Transit Q3 profit down 41% to $6.3 million

SBS Transit buses parked at the Punggol Temporary Bus Interchange on Feb 25, 2012. Bus and train operator SBS Transit has posted a 41 per cent drop in its net profit for the third quarter from the same period a year ago, to $6.3 million. -- ST PHOTO: ALPHONSUS CHERN

By Yasmine Yahya

Bus and train operator SBS Transit has posted a 41 per cent drop in its net profit for the third quarter from the same period a year ago, to $6.3 million.

This was mainly due to higher expenses.

Revenue in the three months ended Sept 30 rose 5 per cent from a year ago to $203.8 million.

Revenue from its bus operations rose 6 per cent year-on-year as average daily ridership rose by 2 per cent.